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Guide to the 2024 US elections: everything you need to know, from the date to the candidates

US elections 2024: date, candidates and helpful information

The US presidential elections are getting closer and closer. What to pay attention to? 

US elections 2024: from the candidates to the exact date of the ballot call to speculation on the results, the world has already begun to wonder about the upcoming US presidential election. 

In this simple guide, the event will be reviewed so that you arrive prepared for one of the most eagerly awaited elections in the world, the 60th for the country. Moreover, in a few days, the primaries will begin defining the candidates who will compete for the United States of America president: who will win the 2024 US elections?

When are the next US elections? 

Presidential elections in the United States are held every four years on the first Tuesday in November. Therefore, the next US election will occur precisely on 5 November 2024. Voters will go to the polls to elect a new president, officially taking office on 20 January 2025.

These consultations are crucial in American democracy and attract national and international attention as they influence a wide range of global issues. That is why the focus on them is always at the highest level. 

Candidates

Before going into the details of the 2024 US elections, a few clarifications are in order. The party system in The Stars and Stripes is dominated by two main political parties: the Democrats and the Republicans. Both play a central role in US politics and exert considerable influence on the political process and elections at all levels of government.

In November 2022 came the first confirmation of participation, with Donald Trump announcing his candidature for a second (non-consecutive) term as head of the Republicans. A few months later, in the spring of 2023, President Biden made it official that he would run for a second term with the Democrats. These two influential names were joined by others, more and less well-known. From the outset, the Dems’ line-up was less dense than that of the Republicans. 

In summary, the candidates for the 2024 US elections for the Democrats are as follows: 

  • Joe Biden
  • Robert Francis Kennedy Jr
  • Marianne Williamson
  • Dean Phillips

The Republican candidates, on the other hand, are: 

  • Donald Trump
  • Ron DeSantis
  • Doug Burgum
  • Larry Elder
  • Nikki Haley
  • Tim Scott
  • Asa Hutchinson
  • Chris Christie
  • Mike Pence
  • Vivek Ramaswamy
  • Perry Johnson
  • Ryan Binkley
  • Will Hurd

But who, among these, will be chosen to lead each political party? The primaries at the beginning of 2024 will decide this. Primary elections are standard consultations in which voters choose the presidential candidates who will represent their party in the general election. 

It is worth mentioning that all candidates in US elections must comply with Article 2 of the Constitution: the person to be proposed must be a citizen from birth, must be at least 35 years old, and must have resided on US soil for at least 14 years.

US primaries 2024: who are the favourites?

The US primary elections are just around the corner, with voting for the Republicans starting on 15 January in Iowa and continuing in the other states in the following weeks and months. As is almost always the case in history, those in opposition (in this case, the Republican ones) are to be followed since it is scarce for the outgoing president, Joe Biden, to lose those on his side. Polls estimate that the current president is ‘the choice’ of almost 70% of Dem voters. However, given his no longer young age, the Democratic Party primaries could also hold surprises. 

On the Republican front, the favourite to date is still Donald Trump. According to recent polls on the US Election 2024, the tycoon has 47%, 45.7% and 53% of the support in the three key seats of Iowa, New Hampshire and South Carolina, respectively. In second place is Nikki Haley, the former South Carolina governor, who ‘controls’ 14.3%, 18.7%, and 22% of the electorate, respectively. Ron DeSantis, the current governor of Florida who looked like he could be the former president’s main antagonist, has lost ground in several caucuses (meetings where voters debate and vote for candidates) apart from that of Iowa, where he still has 17.3% of the vote.

US elections 2024 and cryptocurrencies

Those in the crypto sector will also watch the 2024 US elections closely. Indeed, US government policies are perfectly capable of influencing the regulation of virtual currencies. For instance, choices regarding rules, financial regulations or anti-money laundering laws can directly impact how crypto is used and traded in the US.

Some candidates or administrations may be more or less inclined to support technological innovation, including blockchain technology and cryptocurrencies. Therefore, policies aimed at promoting new technologies could have a positive impact on the ecosystem.

The consequences could also be fiscal and thus concern the taxation of cryptocurrencies (here all things to know about Italian regulations). More generally, positive news for the sector could increase asset prices with positive repercussions for the global crypto market. Will the 2024 US election candidates be able to stimulate the industry? 

You are on the blog of Young Platform, the Italian platform for buying cryptocurrencies. Here you can find the latest news on blockchain, Bitcoin and more. Follow us and stay updated on the US 2024 elections and much more.

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What is automated trading, and how does it work

Automated trading: what is it and how does it work?

What is automated trading, and how does it work? An intelligent solution for asset trading 

Automated trading has emerged as a crucial component in the contemporary financial landscape, revolutionising how investors interact with financial markets. 

This system employs algorithms, and thus mathematical formulas, to execute buy and sell orders, entrusting a computer programme with the task of operating according to well-defined trading strategies. But what exactly does this approach entail, and its advantages and disadvantages? In short, what is automated trading, and how does it work?

Automated trading: what is?

Automated trading enables you to participate in the financial markets using a computer program that executes trades based on predetermined entry and exit conditions. Traders typically use a combination of technical analysis and setting parameters for their positions, such as opening orders, trailing stops, and guaranteed stops. Automated trading handles trades automatically from start to finish, so you can spend less time monitoring your positions.

Automated trading allows you to execute many trades quickly while removing emotion from trading decisions. All the rules of the trade are already built into the parameters you set. Additionally, some algorithms allow you to use predetermined strategies to follow trends and trade accordingly.

Automated trading: how does it work?

Automated trading systems rely on algorithms or indicators to determine the appropriate times to buy or sell a particular asset. These computer programs may use indicators like the RSI, MACD and Bollinger bands or more complex mathematical and statistical analyses. Once programmed, they operate autonomously, following preset guidelines. 

One of the main strengths of these tools is that they allow investors to maintain a more detached approach. However, it is still necessary to constantly monitor that everything is working correctly. Those who use automated trading tend to be less emotionally involved, a strength when trading in the financial markets. In this sector, emotions can, in fact, condition or even destroy correct and rationally constructed strategies.

How widespread is it?

Knowing what algorithmic trading is also means knowing how popular it is worldwide. This market (or sub-sector) is steadily expanding and is gradually winning over many institutional investors (investment funds and large banks) and retailers or retail investors.

Globally, the trading industry has been valued at USD 2 billion in 2022, while the annual growth rate is about 7%. This means that it is estimated to reach a value of 3.5 billion by 2030. The main reason for the recent expansion is related to the increasing quality of these instruments that have become, over time, more and more accurate and reliable

Automated trading: advantages and disadvantages

Automated trading, like any type of market trading, has advantages, disadvantages, risks, and opportunities. There are no recipes for success; each strategy or indicator must be placed in a specific context. This is why it is necessary to achieve adequate preparation and specific skills before venturing into the world of trading. 

The discourse may differ if one intends to buy and hold an asset over the long term. An easy strategy to set up in this sense is recurring buying, which requires periodic purchases at regular intervals. If this possibility intrigues you, you can explore Young Platform’s ‘piggy bank’ feature, an easy way to buy crypto by averaging the purchase price.

CTA

Returning to the central theme of this article, namely understanding what automated trading is and how it works, let’s look at the main advantages and weaknesses of this type of trading.

Advantages

  1. Less emotional involvement: automated trading, algorithms and indicators allow traders to trade according to a rigid strategy. This is very useful to avoid acting impulsively and not being influenced by the movement of the markets.
  1. Speed of execution: thanks to automatic trading, orders are executed almost instantaneously once the pre-set conditions occur. This way, more time can be devoted to planning the strategy, and the implementation phase can be experienced with peace of mind.
  1. Ability to manage several strategies at the same time: an automated system can follow several strategies or positions at the same time. This makes obtaining a sufficiently diversified portfolio easier, a fundamental component for trading and investing.

Disadvantages

  1. Need for monitoring from a technological point of view: contrary to what one might think, automated trading also requires supervision. If you choose to opt for this solution, you must be aware that it is necessary to monitor the functioning of the algorithm regulating the system.
  2. Risks of non-conforming performance: past performance does not guarantee future results, which may lead to overly optimistic projections.

In conclusion, having understood what automated trading is and how it works, it is worth reiterating that, although it offers numerous advantages, it has risks. Nevertheless, the number of trades handled through this modality is constantly growing.

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Smart Trades arrives, the new feature for automated trading

smart trades

Smart Trades, the automatic trading strategies, are coming to Young Platform! They are available as a preview for Club members only. 

We are happy to announce the launch of a new feature: Smart Trades. This feature was created through a partnership with Aelium, a company specialising in developing cryptocurrency trading strategies. Smart Trades can only be activated in advance by Young Platform Club members. In this article, we will learn what they are, how they work, and what advantages they offer for your cryptocurrencies.

Managing money: a question of time 

Many of us feel we have no time. We would like to devote attention to many essential or enjoyable things, but time always seems in short supply. Managing money is one of them.

Understanding financial concepts helps to set and achieve concrete goals, contributing to present and future financial security. It gives peace of mind, opens new opportunities and avoids uncontrolled debt. Developing one’s savings and investment skills increases independence and quality of life. 

We firmly believe that the crypto market represents a new opportunity, and our job is to make it available to as many people as possible. 

We have always tried to develop tools that are simple and as automated as possible, capable of working even with minimal amounts of money and little time. This way, anyone can try, experiment, and adapt the tools to their situation. Flexibility is our prerogative. We break down any barriers and encourage individual autonomy, starting from the heart of the problem: time. 

Buy-and-Hold and Smart Trades compared

Today, we want to introduce you to a new tool that complements the Moneyboxes. These were created to automate the buy-and-hold approach over the long term. Buy and Hold is an approach that does not consider price fluctuations and volatility and tries to put cryptocurrencies aside over the years on an ongoing basis. The recurrence of purchases over the long term limits risk and the average purchase price.

The completed approach to Moneyboxes, which we want to tell you about today, is the one introduced by Smart Trades. If Moneyboxes are for ‘buying and saving,’ Smart Trades are for trading. They are, therefore, short-term indicators that execute buy-and-sell trades automatically. Smart Trades seek to exploit volatility, price trends, and breaks in support and resistance to their advantage to achieve results over weeks or months, even if they entail higher risk. 

But now, let’s get into the nitty-gritty of Smart Trades to learn what they are, how they work, and what benefits and risks they entail. Above all, we must know how to harness them to achieve our goals.

Remember, the definitions provided here are greatly simplified for a non-expert audience. If you wish to delve deeper into the indicators, we recommend reading the in-depth articles on Academy. It’s crucial to understand that financial markets are intricate and unpredictable, and an indicator’s performance can fluctuate based on numerous factors. Before you proceed, consider your risk profile, investment goals, and time horizon. Also, avoid basing your decisions on a single source of information and always seek advice from a professional who can guide your choices. This table provides some information that may aid your research. But always keep in mind: the final decision is always yours!

What are Smart Trades 

Smart Trades are automatic trading indicators that operate without human intervention thanks to an algorithm. 

This algorithmic trading type uses mathematical models to execute buy and sell orders based on market signals and predefined parameters. With Smart Trades, even beginners can approach trading.

Algorithmic trading: how it works

Algorithmic trading can execute various trading orders at a higher speed than manually. These systems are programmed to recognise trends, patterns and price discrepancies. Based on this data or signals, they execute fast trades to maximise returns. 

An algorithm in trading is a detailed recipe that tells the computer exactly what to do and when. For example, ‘Buy 100 shares of XYZ Corporation when their price falls below 50€ and sell them when their price rises above 60€’. The computer monitors the market 24 hours a day, 7 days a week, and automatically executes these orders when the specified conditions occur, without you constantly tracking the market.

Why activate a Smart Trade?

Activating a Smart Trade offers numerous advantages, especially for beginners. It is a gateway to the trading world that does not require years of experience or constant market monitoring. Smart Trades reduce the emotional factor, one of the biggest obstacles for traders, and allow a more disciplined, data-driven approach. In addition, they will enable you to take advantage of market opportunities 24 hours a day, 7 days a week.

How to Choose a Smart Trade 

Before activating a Smart Trade, it is important to carefully evaluate each strategy, understand the associated risks, and determine which best aligns with your objectives. The app describes each strategy’s characteristics, and you can read the complete guide to help you interpret and use them in your choice. 

How Smart Trades are activated

Activating a Smart Trade on the Young Platform is simple and intuitive. They are currently only available on the Young Platform app, not the web version. After selecting the strategy that best suits your needs, follow this step-by-step tutorial. Simply enter the amount to be allocated and check the summary data before confirming. Once configured, the Smart Trade will start trading automatically, allowing you to monitor progress and make necessary changes. For more details on the functionality, please read our Terms and Conditions and Aelium’s Terms and Conditions.

Smart Trades available on Young Platform

Each of the four proposed strategies works on different parameters. You can read the Academy’s in-depth article on a strategy by clicking on it in the following list: 

  • Keltner Channels
  • Supertrend 
  • Momentum 
  • Bollinger Bands

Cryptocurrencies available for Smart Trades

The cryptocurrencies available for use with Smart Trades include some of the most popular and liquid ones on the market:

This selection of cryptocurrencies allows diversifying one’s strategies across different assets, taking advantage of each coin’s unique characteristics. 

Smart Trade Monitoring  

To monitor the gains and losses of your Smart Trades, access the ‘Smart Trades’ section of the app. In the ‘Active’ tab, find and select the strategy of interest to view the details. Here, in the Profit&Loss (P&L) section, you can analyse the performance of your plan, checking the percentage increase or decrease and the amounts gained or lost. If you wish to increase your budget, you can easily do so by using the ‘Add Funds’ button on the same detail screen. By following these simple steps, you can actively manage and monitor the effectiveness of your automatic trading strategies on the platform.

Smart Trades that can be activated

Smart Trades can only be activated in advance for Clubs. If you do not belong to a Club, you can only activate one Smart Trade at a time, but by joining a Club, you can unlock many more. 

The availability of these strategies varies according to Club membership.

What fees are applied to Smart Trades?

During the preview period for Club members, a fixed commission of 0.2% will be charged on the transaction amount. Please note that fees may change once the feature becomes available to the public. It’s important to mention that no commission discounts will be applied to Smart Trades, including those offered by the Club subscription or acquired bonuses.

Young Platform does not provide tax, investment, or financial services and advice. The information on this website is provided for informational purposes only. It is presented without regard to any specific investor’s investment objectives, risk appetite, or financial circumstances and may only be suitable for some investors. Buying and selling cryptocurrencies involves risks, including total loss of capital. Users should always research, consult a qualified professional before deciding, and carefully assess their risk profile and loss tolerance.

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Smart Trades available on Young Platform

Smart trades are algorithmic trading strategies. This article will examine the types available on Young Platform and how they work.

Algorithmic trading in brief 

Imagine algorithmic trading as the use of an autopilot for trading. Just like the autopilot of a plane or Tesla, it follows precise instructions to take us to our destination. In algorithmic trading, software acts according to well-defined rules (the algorithm) to buy or sell assets such as stocks, bonds or cryptocurrencies. Smart trades work this way, thanks to their algorithms. 

The advantages of algorithmic trading 

The main advantage lies in eliminating emotional and psychological influences that determine human decisions, using a cold, logical approach to data instead.  Unlike us, the algorithm never rests: it scans the data and the market 24/7, even while we sleep. 

Algorithmic Trading on Young Platform 

The algorithm, in itself, acts according to rules. Each algo-trading strategy available on Young Platform has its specific algorithm, built on an ‘indicator’. 

Indicators work like ‘sensors’ that try to understand what will happen once they have analysed the data. Based on the result, the algorithm executes a buy or sell order. It is essential to remember that indicators analyse statistical trends and are therefore not infallible. This is because the market is unpredictable, and no one, not even mathematics, can predict the future. 

Smart Trades available 

Let’s, therefore, take a look at the strategies available on Young Platform and their respective indicators: 

Discover on Young Platform

Each Smart Trade can be activated on one of the following cryptocurrencies:

NB. The following definitions have been greatly simplified to make them accessible to a non-expert audience. To explore the indicators, please read the in-depth analyses of the Academy below. Also, remember that the information below, including that in the summary tables, is not a magic formula. Financial markets are complex and unpredictable, and the performance of an indicator can vary depending on many factors.

Before proceeding, consider your risk profile, investment objectives and time horizon. Also, do not base your decisions on a single source of information; always consult a professional who can help you base your choices. In this table, you will find some information that may help you research. But don’t forget: the final decision is always yours! 

Supertrend

This strategy takes its name from the indicator on which it was built: the Super Trend Indicator. In a nutshell, it works on short-term volatility by trying to identify price trend reversals.  

A trend reversal, also called a price reversal, is a change in the direction of prices. The prices of a specific asset are hitherto oriented in a particular direction, and they change direction. There are downward reversals and upward reversals. The trend changes from positive to negative in the first case, while the opposite occurs in the second case.  

The dedicated guide includes other ranking parameters to help you assess whether this strategy is right for you.

Keltner Channels 

The Keltner Channel was first introduced by Chester Keltner in the 1960s. This indicator mainly studies price strength. 

The Keltner Channels help identify potential entry and exit points in an upward market. They tend to work best in high volatility, i.e., when an asset’s price moves steadily. Conversely, if the price remains stable, it may suggest a less volatile or consolidating market.

The dedicated guide includes other ranking parameters to help you assess whether this strategy is right for you.

Momentum 

This indicator is a tool that helps analyse markets to understand whether the price of an axis is getting stronger or weaker. It tells us whether the price is rising rapidly, falling, or changing slowly. This indicator mainly uses two indices: the Relative Strength Index (RSI), which helps to tell if a stock has been bought or sold too much compared to its ‘normal’ value, and the Moving Average Convergence Divergence (MACD), which shows if the price trend of an asset is changing.

The dedicated guide includes other ranking parameters to help you assess whether this strategy is right for you.

Bollinger Bands

The Bollinger Bands strategy, named after its indicator, operates based on ‘buy walls’ and ‘sell walls’. It comes into play when the price enters an ‘overbought’ or ‘oversold’ zone.

In the first case, a cryptocurrency is traded at a price the index evaluates as higher than the “fair” price. Therefore, it is expected that the market will correct shortly, and consequently, there will be a decrease in the value of the cryptocurrency. In the second case, the index believes that the cryptocurrency is traded at a price below its “fair” value. Thus, it is likely that the price will bounce back up.

Other classification parameters in the dedicated guide can help you evaluate whether this strategy is right for you.

How to activate a strategy on Young Platform

Now that we have identified one or more strategies suited to our needs, it is time to get into the swing of things and follow the step-by-step tutorial to activate them. We have devoted an article to the Smart Trades activation guide. In addition, you can read the article on Frequently Asked Questions about Smart Trades.

Young Platform does not provide tax, investment or financial services and advice. The information on this website is provided for informational purposes only and is presented without regard to any specific investor’s investment objectives, risk appetite, or financial circumstances. It may not be suitable for all investor users. Buying and selling cryptocurrencies involves risks, including total loss of capital. Users should always research, consult a qualified professional before deciding, and carefully assess their risk profile and loss tolerance.

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Buy-and-Hold: what it is and how it works

buy-and-hold

Buy and Hold is a widely used long-term approach. It is based on the belief that, despite market volatility, the value of cryptocurrencies will tend to increase in the long run. Think, for example, of someone who bought Bitcoin five years ago and has yet to sell it, hoping for further appreciation.

Buy and Hold: General Considerations 

Buy and Hold is a particularly suitable approach for beginners because it does not require excessive analysis skills or in-depth knowledge of market dynamics. 

On Young Platform, we have developed a feature to use this approach: Moneyboxes. To be able to activate them, these are the elements you need to bring with you: 

  • a lot of patience
  • a budget to be allocated on a weekly or monthly basis
  • a basic grounding in the options available

For this last point, please refer to the end of the article.

Discover it on Young Platform

Why choose the buy-and-hold approach

Each approach has peculiarities that, aligned to the specific needs of each, can turn into significant advantages. Let us take a closer look at the conditions under which Buy and Hold can be particularly suitable:

  • when one has little time or knowledge in the field
  • when you can set aside a budget regularly (the minimum is 20€ in the case of Young Platform operations) 
  • one has an anxious, emotional or high-stress personality 
  • one is not too familiar with the use of applications or web platforms
  • you do not want to achieve goals in the immediate term, but you are thinking of achieving results in the long term
  • one does not know the charts well and finds it hard to understand what is the best price to buy and when is the best time to buy

Advantages of the Buy and Hold Approach

Less emotional impact 

One of the most challenging aspects of buying cryptocurrencies is managing emotions. Market volatility can often lead to hasty decisions based on panic or euphoria. Buy and Hold reduces this emotional stress, as the user does not have to worry about daily market fluctuations.

Long-term benefit

Historically, many cryptocurrencies have shown a long-term appreciation trend. People who bought Bitcoin or Ethereum in their early years and held the position have often seen strong results. Of course, we know that ‘what has been‘ is no guarantee of ‘what will be’. However, looking at a chart that photographs the performance of a cryptocurrency from its inception to the present can help us understand whether a long-term approach has the best chance. This means the answer is ‘yes’ for one cryptocurrency and ‘no’ for another.

Simplicity of management

Unlike active trading, which requires constant attention and analysis of the market, the buy-and-hold approach is relatively simple to manage. Once the repetitiveness of buying is set, the user only has to monitor the market occasionally.

Reducing transaction costs 

Each transaction may involve costs, such as buying and selling commissions. The buy-and-hold approach minimises the number of transactions, thus reducing the associated costs.

Flexibility of market entry

Systematic hoarding, also known as Dollar Cost Averaging, allows users to enter the market at an average cost, reducing the risk of buying large amounts of cryptocurrency at an unfavourable time.

More excellent protection against short-term volatility 

By holding cryptocurrencies for an extended period, users are less exposed to the inevitable short-term market fluctuations, which can often be drastic.

How to apply this approach 

Young Platform has developed an ad hoc section for this type of user: Moneyboxes. 

Each Moneybox comes with a powerful tool: recurring purchases. 

The recurring purchase is an automatic order executed according to our chosen settings. 

There are three parameters to be entered:

  1. The budget
  2. Frequency
  3. The cryptocurrencies we are interested in

Choice of budget

The easiest way to decide on a budget is, for example, to analyse our expenses monthly. How much can we put aside? And how much of this budget do we want to convert into cryptocurrencies? 

All that remains now is to decide how to load the budget into our account: by credit card, debit card, prepaid card or bank transfer. Follow the deposit guide for a complete tutorial on the procedure. 

NB. When setting the recurrence of the deposit, make it a few days earlier than the one you set for the Moneybox. 

Frequency

Once the budget has been established, all that remains is to ‘unpack’ it into several purchases. The choice can fall on:

  • 1 purchase per month
  • 1 purchase every fortnight
  • 1 purchase per week

The choice will also depend on the size of the budget. For example, if it is 1,000€ per month, I may consider splitting it into several purchases so that the average purchase price is well spread over the 30 days. 

Essential preparation on available options

Three types of Moneyboxes are available on the Young Platform. Each includes one or more cryptocurrencies, and knowing what we buy is essential. For an informed choice, it is crucial to learn more about the characteristics of each cryptocurrency, such as its history, market positioning and potential applications.

The Curated Bundle

These are Moneyboxes already diversified by market area:

Single Coin Moneybox

To purchase an individual cryptocurrency, simply select one from the menu. To explore the various projects, scroll down the Markets page of our site and, by clicking on a cryptocurrency’s name, read more about it. Before making any transactions, conducting thorough research and analysis is essential, assessing each cryptocurrency’s characteristics.

The Bespoke Bundle (2 to 5 crypto)

You can create a customised and diversified Moneybox using the’ Markets’ page to discover the various cryptocurrencies. This section lets you learn more about the available projects and their characteristics. However, conduct in-depth research on each cryptocurrency before including it in your Moneybox.

Young Platform does not provide tax, investment or financial services and advice. The information on this website is provided for informational purposes only. It is presented without regard to any specific individual’s objectives, risk appetite or financial circumstances and may only be suitable for some Users. Buying and selling cryptocurrencies involves risks, including total loss of capital. Users should always research, consult a qualified professional before deciding, and carefully assess their risk profile and loss tolerance.

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The new all-time high for Bitcoin!

Bitcoin all-time high

Bitcoin has reached a new all-time high, surpassing $71,000. What are the three leading causes?

Bitcoin has officially recorded a new all-time high (ATH). A few minutes ago, it hit the $71,627 level.

This term describes the maximum value Bitcoin touches or, in general, any asset. What has happened in recent weeks is anomalous. Bitcoin has never reached a new all-time high before halving during past cycles, coming in less than fifty days.

How is it possible that Bitcoin has now reached this new record high? Given that a year ago, its value was more than three times lower than it is today. Here are the three main reasons

Bitcoin’s historical high: the causes

Identifying all the causes of Bitcoin’s unexpected all-time high is a daunting challenge. While it is much easier to find the main ones, the question to build on to understand the economic context in which to place the crypto’s recent bullish rally is: Why did Bitcoin record a new all-time high? And more importantly, why did it reach this milestone before the next halving?

  1. The approval of spot ETFs

The first reason is apparent. From 11 January onwards, Bitcoin has entered the Olympus of assets. The approval of spot ETFs by the Securities and Exchange Commission (SEC) has incredibly boosted the crypto’s status, making it attractive even to those who have not delved into its technology. Most institutional investors, historically antagonistic to BTC, have re-evaluated it and finally understand its potential. 

However, if we analyse what has happened from an economic point of view, the situation is even more evident. Right now, there is an imbalance between supply and demand, which favours the former. Thanks to their ETFs, funds are buying vast amounts of Bitcoin daily, while issues remain stable and will halve with the halving of April.

  1. Halving 2024

The second reason relates to the event that all crypto enthusiasts have been waiting for. In past cycles, this has always preceded Bitcoin’s new all-time high, but this time, everything is different. How come? It’s impossible to say for sure, but what happened could be connected to the approval of ETFs.

Usually, halving was, for many, an ‘excuse’ to return to crypto after months in which most investors ignored it due to the bear market‘s bearish price movements. This time, however, in part, the interest has come early, attracted by significant American funds.

  1. A virtuous bear market

The third and final reason is related to the bear market. The strong growth that Bitcoin and the crypto world, in general, have experienced in the last period is also the result of the work done in the previous two years. You know, there is no better time to build new solutions or improve existing ones than when prices fall and the euphoria disappears.

Over the past few months, many technological innovations have been born (or improved) on Bitcoin. Some are more controversial and divisive, such as Ordinals and BRC 20 tokens; others, such as Layer 2, are universally considered necessary. The other ecosystems, e.g. Cosmos, Ethereum and Solana, have also renewed themselves, trying to improve above all from the point of view of ease of use. A historical weakness for this sector.

As mentioned, these are not all the causes contributing to Bitcoin reaching a new all-time high. How not to mention the considerable interest in artificial intelligence and the consequent rise in the share price of technology companies, e.g., Nvidia? Or the imminent end of quantitative tightening policies, and thus the likely cut in interest rates in the coming months. 

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FIL, STX, TRX arrive on Young Platform

STX, FIL and TRX available on Young Platform

You can now buy three new cryptos on Young Platform: find out all about Tron (TRX), Stacks (STX) and Filecoin (FIL)! 

Great news! You can purchase and trade TRX, STX, and FIL on the Young Platform. While you can deposit and withdraw TRX, you can only trade STX and FIL, as deposits and withdrawals are unavailable. For more information, please refer to our Terms and Conditions.

Find out how these profoundly different decentralised protocols work to decide if they are for you!

What do you need to know about Tron (TRX), Stacks (STX), and Filecoin (FIL)?

Tron (TRX) is a blockchain infrastructure that enables the development of smart contracts and the use of decentralised applications and NFT platforms. Its founder, known to most crypto enthusiasts, is the Chinese entrepreneur Justin Sun, who managed in 2017 to raise 70 million dollars through an ICO to support the project.

Stacks (STX) is a Layer 1 blockchain that enables smart contracts. This brings Ethereum’s universe of programmability to the Bitcoin blockchain. To achieve this, Stacks uses a unique consensus mechanism called Proof-of-Transfer. The mechanism requires continuous transfers of BTC to specific addresses predetermined by the network.

Filecoin is a distributed and dynamic cloud storage network that offers a powerful alternative to centralised services such as Amazon Web Services, Dropbox, iCloud, and Google Drive. The project aims to establish a decentralised and peer-to-peer cloud infrastructure.

How to use TRX, STX, FIL on Young Platform

Here are all the features available for Tron (TRX), Stacks (STX) and Filecoin (FIL) on Young Platform and Young Platform Pro:

  • Buying and selling with EUR
  • Recurring purchase
  • Creating a Single Currency or Customised Savings

Please note that you can only buy and sell Stacks (STX) and Filecoin (FIL) on the Young Platform, but you can’t deposit or withdraw them.

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Young Platform and Young Platform Pro Commissions Update

Young Platform Exchange Fees Update

Starting on 4 March 2024, we will introduce significant updates to our commission model to enhance our users’ trading experience. These changes will make Young Platform more competitive and attractive to traders and investors.

These updates were introduced following a survey extended to the entire community, whom we warmly thank for their suggestions and feedback. 

Recognising the sensitivity of this topic, we have adopted an approach centred on transparency and valuing direct benefits to our users. To completely understand these updates, please consult our detailed commission page of Exchange Base and Exchange Pro and review the Terms and Conditions.

Young Platform 

Commissions for Euro-Crypto exchanges

The update of commission rates on Euro-Crypto transactions aims to maximise the yield of cryptocurrency buying and selling transactions by moving to a hybrid model with fixed and variable commissions. 

Introducing a fixed and variable structure aims to enhance users with amounts over €100, who comprise the majority of our community.  

Therefore, the variable calculation on buying and selling transactions from Euro to Crypto and vice versa was integrated, making exchanges with more significant amounts more convenient. 

Commissions for Crypto-Crypto and Euro-YNG exchanges

The fees for conversion from one cryptocurrency to another (Crypto-Crypto) and for trading the Young Token (YNG) remain unchanged, as shown in the table below.

Money Boxes 

Your dedication to gradually growing your crypto portfolio is something we deeply admire. That is why we keep the fees for recurring piggy bank purchases unchanged, making regular savings worthwhile, even for small amounts.

Young Platform Pro 

We revolutionised our commission model for Young Platform Pro from a fixed fee structure (0.2%) to a fully variable one for maker-and-taker trades. This innovation is designed to meet the needs of advanced traders, offering more favourable conditions for those trading with significant volumes.

The determination of the commission rate is based on a 30-day assessment period, during which commissions are calculated according to the trading volumes realised. The calculation is performed every day at 00:00 UTC. This implies that the adjustment of fees always occurs concerning the volumes traded in the previous thirty days.

Same Club, same benefits!

Enjoy club discounts on Young Platform and Young Platform Pro: the exact discount percentages will be applied to the new commission model. 

Fee discounts are applied to all buy and sell orders. If these orders are executed on the Pro Platform, the discount is applied up to a maximum of €50,000 volume in the last 30 days. Standard buy and sell commissions will apply if the maximum is exceeded in this timeframe. These can be found on the Commissions and Prices page.

Unlocking Commission Discounts: More Ways to Save

Invite a Friend 

Our ‘Invite a Friend’ programme is an unmissable opportunity to benefit from commission discounts. Inviting friends to join our platform, you both get a 10€ discount applicable on purchases, sales and conversions.

Joining a Club 

Joining a club offers significant advantages on commissions and access to an exclusive package of discounts on additional services, allowing you to customise your experience in the crypto world according to your preferences.

N.B. fee discounts are applied to all buy and sell orders. If these orders are executed on the Pro Platform, the discount is applied up to a maximum of €50,000 volume in the last 30 days. Standard buy and sell commissions will apply if the maximum is exceeded in this timeframe. These can be found on the Commissions and Prices page.


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Stamp duty on cryptocurrencies 2024

Stamp duty on cryptocurrencies 2024

Following the new Budget Law 2023, stamp duty was introduced on Young Platform.

Young Platform has updated its Terms and Conditions, introducing new rules regarding stamp duty for its users. This update has been introduced in compliance with the Italian Budget Law 2023, particularly with circular number 30/E of the Agenzia delle Entrate having as its subject “Tax treatment of crypto-assets. Article 1, paragraphs 126 to 147, of Law No. 197 of 29 December 2022′.

As an ‘other financial operator’, Young Platform must charge stamp duty to its users for anti-money laundering regulations and tax monitoring obligations (Article 1(1) of DL 167/1990).

This tax is equal to 0.2 per cent of the value of the cryptocurrencies held by the user on 31 December of the taxable year. Let’s look at stamp duty, who is responsible for paying it, and how it can be paid.

1. Definition of Stamp Duty

Stamp duty is an indirect tax that applies to certain economic transactions as a sign of the taxpayer’s financial capacity. In practice, this tax affects transactions that indicate a specific economic availability, such as the transfer or consumption of goods and services and financial instruments. Until 2022, cryptocurrencies were exempt from this type of tax. However, with the introduction of Act No. 197 of 27 December 2022, the situation changed: now, those who own cryptocurrencies have to pay stamp duty.

2. Who is liable to pay Stamp Duty

Regardless of their tax residence, all cryptocurrency holders are now subject to the stamp duty obligation. This obligation applies irrespective of the exchange used to hold one’s cryptocurrencies.  

3. Calculation of the tax base

The taxable base for stamp duty is 0.2% of the value of cryptocurrency assets held at the end of each calendar year. It is, therefore, calculated by multiplying the value of cryptocurrencies held on 31 December of the relevant year by the 0.2% rate. If the computed tax is less than 1 euro, the applicable tax will still equal this amount (1 euro) under Article 3, paragraph 3 Presidential Decree 642/72. 

It is reported in section 3.7.3 of the Revenue Agency’s circular that explains how the tax value is calculated:

The tax base consists of the value corresponding to the value of the crypto-assets at the end of each calendar year, as recorded by the exchange platform where the purchase thereof was made. Should it not be possible to ascertain the value on the 31st of December of the reference year from the platform where the crypto-asset was originally purchased, such value may be ascertained from a similar platform where the same crypto-assets are tradeable or from specialised sites in the detection of their market values. In the absence of the aforementioned value, reference should be made to the purchase cost of the crypto-assets. If the crypto-assets are no longer held as of the date of the 31st of December, reference should be made to the value ascertained at the end of the holding period. As provided by paragraph 19 of article 19 of the decree law no. 201 of 2011, the tax is due in proportion to the days of holding and the share of ownership in the case of jointly held crypto assets.

4. How much do I have to pay for the tax?

The tax is calculated automatically by the platform. You can find the details under ‘Profile’ > ‘Payments and Gift Cards’ > ‘Stamp Duty’. 

5. By when must stamp duty be paid?

On Young Platform, the balance must be paid by 1 April of the year following the end of the tax period, i.e. by 1 April 2024 for the tax relating to 2023.

6. How is stamp duty paid?

In the specific case of Young Platform, the stamp duty will be automatically calculated and deducted from the user’s Euro Wallet as of 21/02/2024 against adequate liquidity to meet the relevant tax liability. 

Consequently, for all users who, as of 21 February 2024, did not have enough liquidity in the Euro Wallet of their Young Platform account, the charge will be made at the first useful transaction. It will be sufficient to deposit into your account via one of the following payment methods:

  • Credit, debit or prepaid card.
  • Bank transfer.
  • Converting cryptocurrencies into fiat currency.

7. Where can I find details of the tax payment?

In the Euro Wallet section, under ‘History’, there will be an entry ‘Stamp Duty’. By clicking on it, it will be possible to view the details of the transaction:

  • Transaction ID
  • Reasons under “Notes” 
  • Date of execution
  • Status

8. How often does one have to pay stamp duty? 

Stamp duty must be paid annually, due by April. The amount to be paid is based on the value of cryptocurrencies held on 31 December of the previous tax year.

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NEAR, SEI, STRK and SUI arrive on Young Platform

NEAR, SEI, STRK and SUI available on Young Platform

You can now buy four new cryptos on Young Platform: find out all about NEAR (NEAR), Sei (SEI), Starknet (STRK) and Sui (SUI) 

You can now buy and sell NEAR, SEI, STRK and SUI on Young Platform! Deposits and withdrawals are not available for Sei (SEI), Starknet (STRK) and Sui (SUI), while are available for NEAR (NEAR). For more information, please read our Terms and Conditions.

Find out how these innovative protocols work to decide if they are right for you!

NEAR (NEAR)

NEAR is an environmentally sustainable, scalable, fast and decentralised user-friendly Layer 

1 blockchain. This network, made secure by a Proof-of-Stake consensus mechanism, uses sharding. This means that its blocks are divided into smaller ‘chunks’ so that each validator node has to handle a smaller amount of data.

Sei (SEI)

Sei is a Layer 1 blockchain built on Cosmos that focuses on decentralised trading, NFTs and gaming. The protocol’s slogan, ‘The fastest Layer 1 for trading’, sums up the main peculiarities of this network: speed and scalability, which it achieves thanks to an innovative Proof-of-Stake ‘Twin-Turbo’ consensus mechanism.

Starknet (STRK) and what do you need to know?

Starknet is an Ethereum scalability solution using zero-knowledge rollup technology. In particular, this network uses zk-STARK cryptographic proofs to make the network competitive in terms of scalability, speed and security. These proofs group transactions in batches or ‘batches’, allowing them to occupy much less space and lower transaction fees.

Sui (SUI)

Finally, Sui is a fast and scalable Layer 1 blockchain made secure by the Proof-of-Stake consensus mechanism. To programme its smart contracts, developers use Move. This programming language was created by the same team responsible for developing Libra, the cryptocurrency Meta (formerly Facebook) designed that never saw the light of day. The consensus mechanism, consisting of the Narwhal, Bullshark and Tusk protocols, allows processing up to 120,000 transactions per second.

How to use NEAR, SEI, STRK and SUI on Young Platform

Here are all the features available for NEAR (NEAR), Sei (SEI), Starknet (STRK) and Sui (SUI) on Young Platform and Young Platform Pro:

  • Buying and selling with EUR
  • Recurring purchase
  • Creating a Single Currency or Customised Money Box

Warning. These cryptocurrencies can only be bought and sold but not withdrawn or deposited by and on Young Platform.